Paxful was established in 2015. It is an American trading platform, which is located in Wilmington, Delaware. Since its creation, the company has become unique, in the role of a peer-to-peer market, where buyers and sellers make trade offers by themselves. The service itself doesn’t do trading but simply acts as an intermediary in the trading process.
Many different payment methods are available on the site. There are more than 300 of them, including credit and debit cards, bank transfers, PayPal, Neteller, Skrill and many gift cards (iTunes, Amazon, Steam).
There are no Paxful fees for the buyer on the site, but depending on the chosen method of payment, a percentage of the sum will be assigned. But for the seller, the commission is 1%, as well as the “reward for mining” in the network is also paid by him.
It is also good that all information about users is available, and you can leave a feedback about how the transaction was completed. This allows you to choose only reliable sellers with whom there is no danger of Paxful fraud.
Is Paxful legit?
Is Paxful legit? Yes, this is a completely legal registered company, headquartered in Wilmington, Delaware. You can get acquainted with the platform team in the “About us” section. Now the site serves more than 2 million users from all over the world. For the convenience of people from different countries, Paxful reviews 20 languages for the site:
At the bottom of the page, there are many sections where you can find almost any information you are interested in. In the same place, all the contact details of the support service are presented such as the e-mail address of the support team, and business e-mail. Facebook and Twitter are available for communication too. The site also has a F.A.Q. section where users can find many answers to the most common questions.
Is Paxful safe?
Security is important for everyone who works with cryptocurrency. Paxful takes care of its users. The site uses “COMODO secure” with its 256-bit SSL to protect users. Paxful fulfills all PCI security standards. So is Paxful safe? To protect your transaction, the platform uses an escrow account that is secured with the BitGo multi-signature system. All disputes between the parties are decided by the site’s moderators team.
To start the work you need a Paxful login. To secure your account, you need to choose a strong password and connect two-factor authentication. By the way, you can sign up with your Binance account if you have one.
To attract new customers to the site there is an affiliate program, according to which any partner receives 2% of his purchase.
How to use Paxful? It’s very simple to make a purchase. Enter the desired sum, currency, and payment method. Now you can either look at the entire list of sellers or let the system automatically choose the best option.
After selecting a user, you can communicate with him directly. After all the terms of payment are done, your wallet will be instantly replenished. The time depends only on the payment method, but usually, it takes less than an hour. When trading begins, the seller’s bitcoins will be placed in a safe depository and the seller won’t be able to cancel the transaction. If the buyer doesn’t do the conditions or refuses the transaction, the whole sum will be returned to the seller.
Now let’s make the conclusion of this Paxful review 2020. The platform is very popular and reliable. It has no restrictions in all countries. But each buyer will have internal rules depending on the country and possible methods of payment. But trade is quick and simple.
The disadvantages of the platform are not the greatest. This Paxful review recommends you to use this service for trading. If you carefully select users for a deal there won’t be a risk of Paxful scam for you.
- Wide choice of payment methods (more than 300) and withdrawal methods (more than 150);
- A good support forum;
- Low commission;
- It's easy to start trading;
- High speed of purchase by traditional methods.
- High exchange rate;
- Some users can make a fraud;
- High fees for non-standard methods of payment (for example, gift cards).